Kenya Pipeline Extends IPO Bank Guarantee Deadline
Kenya Pipeline Company has revised settlement terms for investors using Irrevocable Bank Guarantees in its IPO, extending the final payment deadline to March 6, 2026 from March 5 after approval by the Capital Markets Authority. The update, issued on February 18, comes a day before the offer closes and lengthens the bank settlement window to 48 hours while tightening assignment rules on guarantees. The company said the changes affect only post-allocation payment mechanics and leave pricing, offer size, and other IPO terms unchanged.
Kenya to Buyback KSh 64.5Bn Eurobond Ahead of Fresh Dollar Bond Issue
Kenya has launched a US$500M (KSh 64.5B) Eurobond tender targeting its 7.25% notes due 2028 and 8.00% amortizing notes due 2032, offering premium prices as part of a liability management exercise linked to a planned new US dollar bond issue. The offer seeks up to US$150M (KSh 19.4B) of 2028 bonds and US$350M (KSh 45.2B) of 2032 notes at 103.50% and 105.50% of face value respectively, plus accrued interest. Acceptance depends on successful refinancing, with tendering investors receiving priority in allocations of the new issue.Crested Uganda Pegs Kenya Pipeline's IPO Fair Value at KSh 4.61 Ahead of Offer Close
Uganda's Crested has valued the Kenya Pipeline Company IPO at KSh 4.61 per share, warning of a 49% downside to the KSh 9.00 offer price as the subscription period nears close. The valuation aligns with Old Mutual Uganda’s earlier call and is based on a blended DCF and peer-multiple analysis, factoring in KPC’s heavy capex plan and modest 3.9% dividend yield at the offer price.Ethiopia's Stock Exchange Advances Six Banks Toward Listings
Ethiopia’s stock market is set for its first meaningful expansion after the Ethiopia Securities Exchange confirmed six banks have received approval in principle to list on the ESX Main Market. Awash, Dashen, Bank of Abyssinia, Abay, Anbesa, and Amhara banks are finalising securities registration with the Ethiopian Capital Market Authority and completing prospectus disclosures, the final regulatory steps before listing and the start of trading. The move signals growing momentum as Ethiopia shifts from market launch toward active capital formation ahead of the fiscal year-end.Sasini Shares Jump 59% on KSh 7.9bn Land Sale
Sasini shares have surged about 59% in six trading sessions, closing at KSh 32.00 on Friday, February 13, from KSh 20.10 on February 5, after its FY2025 annual report disclosed an agreed KSh 7.9 billion sale of the Gulmarg Division in Mweiga Estates, Kiambu CountyMorocco Overtakes Kenya as Africa’s Leading Avocado Exporter
Morocco has overtaken Kenya as Africa’s leading avocado exporter, with shipments soaring while Nairobi's exports stumbled amid logistical bottlenecks
President Ruto Reappoints CMA Chair Ugass Mohamed
Capital Markets Authority leadership has been renewed after President William Ruto and Treasury CS John Mbadi reappointed the chairperson and five board members for fresh three-year terms effective February 24, 2026. Ugass Mohamed retains the non-executive chair role, alongside Natasha Aduwo, Elena Pellegrini, Meshack Kiprono, Gibson Maina, and Prof. Michael Bowen, extending board continuity as the CMA steps up licensing and market development activity.Finance Committee Retreats to Draft Report on Safaricom Stake Sale
Public hearings on the government's proposal to offload 15% of its stake in Safaricom have closed amid mounting public concern over how the proceeds would be usedUganda's Old Mutual Joins Analysts Challenging KPC’s KSh 9.00 IPO Price
Old Mutual Investment Group Uganda has become the latest analyst to challenge Kenya Pipeline Company’s KSh 9.00 IPO price, valuing the shares at KSh 4.61 and flagging a 49% downside. The call reinforces earlier local analyst estimates that place fair value between KSh 3.28 and KSh 6.35, citing premium valuation multiples and modest dividend yield. Deal sponsors continue to defend the pricing, pointing to KPC’s dominant market position and regulated infrastructure cash flows.Investor Wealth on the NSE Grows by KSh 220bn in a Week, Highest on Record
Investor wealth at the Nairobi Securities Exchange has surged as a broad-based rally pushed market value and indices to record highs. The market has added about KSh 475bn so far in 2026, with the latest week delivering the strongest weekly wealth gain since 2008. Multiple indices closed at all-time or multi-year highs, while 21 stocks broke new peaks across banks, telecoms, utilities, and industrials. Gains were led by large, liquid counters, valuations remain moderate, and prices advanced despite continued foreign outflows, pointing to a locally driven re-rating phase.Ziidi Trader Drives NSE Deals to Record Highs
Trading at the Nairobi Securities Exchange has shifted to a higher baseline after Safaricom’s Ziidi Trader rollout. Equity deals rose from a prior 4,000–7,800 range to repeated records above 20,000, including a peak of 25,773. Ziidi accounted for about 59% of trades on peak days while contributing about 4% of turnover, pointing to retail-led, small-ticket activity. Liquidity stayed firm with four straight KSh 1bn-plus sessions, WoW gains of 81% in volumes and 54% in turnover, and slower foreign outflows, confirming a structural change in participation.Jumia Narrows 2025 Loss to KSh 7.75Bn as Market Exits Cut Cash Burn
